A news article published yesterday by the Brazilian newspaper Folha de São Paulo details a cyberattack on a software company that provides critical infrastructure for fintechs in the country. An estimated US$ 200 million was stolen. The attackers compromised systems belonging to C&M Software, which connects financial institutions to Brazil’s Central Bank, including Pix transactions and reserve accounts.
According to reports, the attackers allegedly used legitimate client credentials to access systems and carry out transactions directly from reserve accounts held at the Central Bank. Part of the stolen funds was quickly moved and converted into cryptocurrencies (Bitcoin and USDT). One of the crypto platforms involved, SmartPay, detected the unusual activity and was able to block part of the funds.
The case is under investigation by the Brazilian Federal Police, and the Central Bank has ordered the immediate disconnection of C&M’s infrastructure to contain the damage.
submitted by /u/OkIndustry2747
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